NOWL vs. ASMG
NOWL (GraniteShares 2x Long NOW Daily ETF) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a correlation of -0.09, they often move in opposite directions. NOWL charges 1.50%/yr vs 0.75%/yr for ASMG.
Performance
NOWL vs. ASMG - Performance Comparison
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Returns By Period
In the year-to-date period, NOWL achieves a -47.14% return, which is significantly lower than ASMG's 127.56% return.
NOWL
- 1D
- -12.28%
- 1M
- 84.18%
- YTD
- -47.14%
- 6M
- -55.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ASMG
- 1D
- 2.43%
- 1M
- 49.91%
- YTD
- 127.56%
- 6M
- 96.41%
- 1Y
- 308.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOWL vs. ASMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | -47.14% | -42.58% |
ASMG Leverage Shares 2X Long ASML Daily ETF | 127.56% | 50.60% |
Correlation
The correlation between NOWL and ASMG is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025 | -0.09 |
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Return for Risk
NOWL vs. ASMG — Risk / Return Rank
NOWL
ASMG
NOWL vs. ASMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NOW Daily ETF (NOWL) and Leverage Shares 2X Long ASML Daily ETF (ASMG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| NOWL | ASMG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.73 | 1.89 | -2.62 |
Drawdowns
NOWL vs. ASMG - Drawdown Comparison
The maximum NOWL drawdown since its inception was -86.57%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for NOWL and ASMG.
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Drawdown Indicators
| NOWL | ASMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -43.95% | -42.62% |
Max Drawdown (1Y)Largest decline over 1 year | — | -34.56% | — |
Current DrawdownCurrent decline from peak | -71.83% | 0.00% | -71.83% |
Average DrawdownAverage peak-to-trough decline | -47.40% | -13.28% | -34.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 13.85% | — |
Volatility
NOWL vs. ASMG - Volatility Comparison
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Volatility by Period
| NOWL | ASMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 29.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 64.23% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 102.34% | 81.15% | +21.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.34% | 84.49% | +17.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.34% | 84.49% | +17.85% |
NOWL vs. ASMG - Expense Ratio Comparison
NOWL has a 1.50% expense ratio, which is higher than ASMG's 0.75% expense ratio.
Dividends
NOWL vs. ASMG - Dividend Comparison
NOWL has not paid dividends to shareholders, while ASMG's dividend yield for the trailing twelve months is around 4.92%.
| Position | TTM | 2025 |
|---|---|---|
ASMG Leverage Shares 2X Long ASML Daily ETF | 4.92% | 11.20% |
NOWL GraniteShares 2x Long NOW Daily ETF | 0.00% | 0.00% |
Frequently Asked Questions
NOWL and ASMG have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASMG is cheaper with a 0.75% expense ratio, compared with 1.50% for NOWL.
ASMG has the higher dividend yield at 4.92%, compared with 0.00% for NOWL.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for NOWL and 0.75% for ASMG.
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